Despite low income, some banks also offer loans to apprentices. However, you can not count on very large sums; the credit margin is usually 1000 to 5000 euros. Although this may seem relatively meager at first glance, you will ultimately benefit from a small loan of training. If you apply for a loan of more than 5000 euros, the risk of indebtedness is very high. Keep in mind that you may need more credit in the course of your life – a negative private credit entry is of course not conducive.
Since you do not earn much during your training, you probably lack credit. However, the bank wants to hedge against a loss and “give” you no money. For this reason, many banks insist on suretyships, which can be taken over eg by the parents or the partner. If you have one or more guarantors, your chances of getting a loan with training increase. After all, the bank has the certainty that they will get their money – whether from you or from your guarantor.
Loa compared with training
Of course, before you take out a loan, you should compare the offers of different banks. Apart from low interest rates, duration and monthly installment rates also play an important role. It is best to first calculate how much money you can spend per month to repay the loan and decide to run it as long as possible. This reduces the risk of indebtedness many times over. When you make a credit comparison on the Internet, you immediately have a good overview of all interest and conditions. Of course, you can make the loan application on the Internet and thus save a lot of time and money.